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How many of you have read the SEC Complaint?


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Ship coin may be similar to the XRP example....

Between November 2017 and January 2018, ShipChain raised approximately $27.6 million through an initial coin offering (ICO) of the SHIP token. The company explained to investors at the time that it would use the funds raised in the ICO to develop its blockchain platform and to "revitalize ShipChain's economic condition and replenish its capital so that ShipChain can offer the best possible product.

The SEC said that purchasers of SHIP tokens would have had a reasonable expectation of future benefits from ShipChain's representations and the company's efforts to develop its platform. Considering this background and other matters, the SEC determined that the SHIP tokens were unregistered securities whose offering and sale had not been registered with the SEC.

The SEC ordered, and ShipChain consented to, the following

Forward all SHIP tokens to the SEC and the SEC will deactivate them.
Delist its assets from (SEC-jurisdictional) exchanges within 10 days.
Pay a fine of approximately $2 million to the regulator.

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The SEC seems content to browbeat the reader with irrelevant, non-incriminating minutia that is fun for a corporate/crypto voyeur, but really a bunch of normal mundane business operations with little contextualization and highly selective quoting. The frequency of blatant mischaracterizations is appalling.  

 

 

*Typo edit

Edited by RobertHarpool
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obviously a biased view, but if you took the time to read the entire SEC complaint, you midas well spend the 13 minutes watching CryptoEri's take...

I've always considered myself irrationally optimistic, but could it be that the irony of this whole debacle will be that this is the fuel needed to begin the flippening of BTC.... I mean... faster, better, stronger..... more energy efficient.... sorry got off the subject... also interesting to note what she states about the cases which haven't been settled and actually went to trial... the SEC has a terrible record!!! Let's bring it to the house!!!

Also, merry X-mas... or whatever you celebrate (I'm not celebrating as I don't give a f@$#!

Also, as a tradition, I drink a bottle of wine every Christmas... so that's all gone....

Also,.... oh... here's the video.... 

 

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XRP is a (registered) virtual currency and not an investment contract (security). XRP is an integral part of the existing distributed XRPL network as well.

XRP does not fall under the custody of the SEC at all. The whole complaint is a political blow-off. It's as simple as it is.

And please... They come up with it 8 years after active communication by Ripple towards regulatory authorities with meetings and even Swell invitations?

Probably even the principle of statute of limitations applies here.

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